Strong growth rates in housebuilding has meant that the UK construction sector continues to grow at a fast rate. January 2014 orders for new houses were strong and gave a great start to the year, however June has been the strongest month for new orders since then. Most construction firms are reporting that they are now hiring again which is strong proof of the overall optimism in the construction industry.

Construction News from Ireland:

It appears that there is another property surge continuing to gain momentum in Ireland, mainly around the capital city of Dublin and the surrounding area. The property experts are predicting an 8% growth in 2014 as demand is well behind supply. The main problem that buyers are experiencing is the lack of supply of 3 bedroom semi detached houses, it appears that there is a big lag in building new houses to suit this market and this is pushing land prices up! This surge in demand is bringing employment back into the construction sector which was dealt a huge blow in the downturn of 2007/2008 with thousands of employees losing their jobs.

The Irish media are reporting a steady growth in Construction, which has grown steadily through the second half of 2013. These claims are being backed up by Irish Government statistics and the main boost is coming in the commercial construction sector. As more and more multi national companies set up their European Middle East & Asian head quarters in Ireland, there has been a strong demand for larger corporate buildings. Many of these will be built in Dublin and the other larger cities around Ireland.

The Construction Index is always an interesting factor regarding the economic outlook for any country be they developed or developing. Latest results published show that Construction companies are feeling the upturn in the economic outlook and it is transferring into higher client spending. The construction industry expanded in October and November with slower growth last month but that should translate into a bounce back for the first quarter of 2014.

UK Construction Index Increases

A recent survey carried out in the UK indicated that UK Construction activity grew at the fastest rate since September 2007, it was a faster than foretasted

An increase in 0.5% bring the construction PMI (The Markit/CIPS purchasing managers' index) to 59.4 was indicated from Sept. 2013 to Oct. 2013 in the This indicates that there is noticeable expansion in the Construction Sector.